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Obama Repeats 'Fair Share' Call to Pay Down the Debt, Fund Jobs Bill

"making sure we live within our means and asking everyone to pay their fair share."

President Barack Obama repeated his call Saturday for all Americans to "pay their fair share" to narrow the nation's deficit and fund his jobs bill.

Laying out a preview of the debt reduction plan he'll present to Congress next week, Obama said during his weekly address that the $447 billion American Jobs Act "will not add to the deficit. It will be paid for."

"On Monday, I'll lay out my plan for how we'll do that -- how we'll pay for this plan and pay down our debt by following some basic principles: making sure we live within our means and asking everyone to pay their fair share," Obama said.

The debt reduction plan aims to cut the deficit by about $2 trillion over 10 years. Obama is making his proposal to a special congressional committee that has been charged with lowering deficit by $1.2 trillion to $1.5 trillion.

"But right now, we've got to get Congress to pass this jobs bill," Obama said.

The president has repeatedly called for the wealthiest Americans to face higher taxes with fewer loopholes.

"The No. 1 issue for the people I meet is how we can get back to a place where we're creating good, middle-class jobs that pay well and offer some security," he said.

In the Republican address, Rep. Peter Roskam of Illinois called on Obama to reduce regulations on businesses, saying government agency rules were choking off hiring.

Washington has become a red tape factory, with more than 4,000 rules in the pipeline -- hundreds of which would cost our economy more than $100 million each annually," Roskam said.

He acknowledged Obama's decision to scrub an EPA-backed clean-air regulation that aimed to reduce smog.

"He can cancel more," Roskam said.

He pressed Obama to push the Democratic-controlled Senate to adopt House Republican initiatives, including legislation that would give Congress veto power over certain high-cost regulations.

"Job creators should be able to focus on their work -- not on Washington's busy-work," Roskam said.

One last thing…
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